Articles from December 2016



Have they paid us? The Critical Question Every Business Needs To Ask!

Have they paid us? The critical question every business needs to ask.

paidThe most important task for any business is making sure that they get paid for their work. Here are some top tips on how to ensure that the cash flows in.

1.       GET YOUR INVOICE IN QUICKLY

It’s easy to forget to invoice clients in a timely fashion, but it inevitably will lead to a delay in the ultimate payment date. So be prompt and don’t let things slip. This can be a particular issue if you’re an owner-manager, who gets bogged down in the day-to-day work.

2.       USE TECHNOLOGY

If you invoice electronically, use software which allows you to see whether your client has opened and viewed your invoice. It’s a great way of keeping on top of payments.

 

3.       SUBMIT THE RIGHT DOCUMENTATION

Make sure you reference the relevant purchase orders and, if applicable, customer approved timesheets, as there’s then much less wriggle room for your customer. And less chance they’ll tell you to go back and resubmit your invoice. You can even attach your paperwork to the invoice in a cloud platform such as Xero and ask your client to approve it.

4.       INTRODUCE PROPER CREDIT CONTROL

If your customers haven’t paid you within the time you stipulated – usually 30 days – then you need to know and be prepared to follow up.

5.       BE CONFIDENT

Some businesses are reluctant to chase an invoice because of the potential repercussions and effects on the relationship. But how good can that relationship really be if you’re not actually getting paid?

6.       PUT SOMEONE IN CHARGE

Businesses which get paid promptly are often those with dedicated staff responsible for chasing debts. As soon as your company reaches a size to justify it, you may well find that the investment in staff makes a real difference or ask your accountant.

These are not right for everybody, so consult your accountant, but there are options out there in which funders may agree to pay you, say, 85% of the debt you’re owed. Banks prefer these types of facilities to overdrafts as they have security over the debtors. Some funders provide integration with platforms, such as Xero, which make it easier to administer.

Need help? Contact us for a free chat!  @pinnacle_IOM #news #IOM #business

 

PINNACLE GET TIED UP FOR HOSPICE!">PINNACLE GET TIED UP FOR HOSPICE!

 Thehopsice-tie Pinnacle team and directors get ‘Tied Up’ for charity!

The Pinnacle team donned their festive ties in aid of Hospice and their awareness campaign #TieUpForHospiceIOM

 

Please support our local Hospice by following the links here

Hospice IOM Hospice Twitter #IOM #BUSINESS #ACCOUNTANT

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To All Our Clients and Contacts………">To All Our Clients and Contacts………

pinnacle-xmas-greetingThe Pinnacle Team would like to wish all their clients and contacts a very Merry Christmas and a successful and Happy New Year.

#iom #accountants #business

Sick of Cold Callers From The UK?   We Have The Answer!

cold-callingIf you get cold calls on your phone from the UK, you can use the following website to get your calls removed..  STOP COLD CALLERS

#pinnacle_iom #iom #accountants #businesses

XERO CLOUD ACCOUNTING WINS SOFTWARE PRODUCT OF THE YEAR!

Xero silver cert partnerXero won best software at the British Accountancy Awards 2016 last night (Thursday 1st December)

“Client Software Product of the Year”

Winner: Xero!

Judges’ comments: A great entry showing innovation and success – it’s no doubt they are still setting the benchmark in the cloud accounting software market.”

Want to know more…. Have a chat with one of the Pinnacle team about Xero

Want a free trial? click here

 

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